The IRS issued regulations and revenue procedures addressing how to calculate the Sec. 36B premium tax credit.
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Federal Courts Disagree on Health Care Credits for Federal Exchanges
Two federal appellate courts issued conflicting decisions regarding the availability of the Sec. 36B premium tax credit for taxpayers who purchase health insurance on exchanges set up by the federal government.
Regulations Permit Election of Alternative Simplified Research Credit on Amended Returns
The IRS issued temporary regulations permitting taxpayers to elect the Sec. 41(c)(5) alternative simplified research credit on an amended return.
Procedures Allow Separate Return Filing for Abuse Victims to Claim Premium Tax Credit
Victims of domestic violence who are afraid or unable to contact their spouse to file a joint return may be able to claim the Sec. 36B health insurance premium tax credit using new procedures announced by the IRS.
Bringing Clarity to Fuel Excise Taxes and Credits
The federal excise taxes, tax credits, and exemptions for various types of fuel constitute a confusing area of the tax law. This item is intended to clear up much of the confusion faced by taxpayers and advisers alike when attempting to claim these tax credits.
Individual Taxation: Digest of Recent Developments: Part II
This is the second of a two-part article covering recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.
Abuse Victims Who File Separate Returns Are Eligible for Premium Tax Credit
Victims of domestic violence who are afraid or unable to contact their spouse to file a joint return may be able to claim the Sec. 36B premium tax credit using procedures announced by the IRS.
Individual Taxation: Digest of Recent Developments: Part I
This article is Part I of a two-part article covering recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.
Cloud Computing and the Credit for Increasing Research Activities
This item focuses on how a taxpayer’s rental expenses for cloud computing for purposes of research and development of new products and solutions should be treated under the Sec. 41 research tax credit.
District Court Says Premium Tax Credits Are Available in Federal Health Care Exchanges
The federal district court for the District of Columbia held that the Sec. 36B premium tax credit is available to taxpayers who purchase health insurance through the 34 state health care exchanges that are run by the federal government.
“Beginning of Construction” for the Renewable Electricity Production and Energy Investment Tax Credits
The IRS clarified Notice 2013-29 defining the beginning of construction for purposes of the Sec. 45 renewable electricity production tax credit and the Sec. 48 energy investment tax credit.
Proposed Regulations Change Definition of R&D Expenditures
The IRS provided guidance on the treatment under Sec. 174 of research and development expenditures incurred in connection with the development of tangible property, including pilot models.
Government Shutdown, Debt Ceiling Deal Includes One Tax Provision
Wednesday’s deal to fund the federal government through Jan. 15 and to extend the federal government’s borrowing authority through Feb. 7 in the end contained only one tax provision, making a minor change to 2010’s health care legislation.
R&D Tax Credits for Food and Beverage Companies
Food manufacturers should look closely at the R&D tax credit even if, in the past, they did not believe their activities in developing new products or processes qualified as technological research.
ATRA Allows Taxpayers to Continue to Accelerate Certain AMT Credits
Under the provisions of ATRA, corporations or consolidated groups with AMT credits from pre-2006 tax years may continue to accelerate the use of these credits instead of claiming bonus depreciation for eligible qualified property.
Proposed Rules Address Minimum Value of Health Coverage for Premium Tax Credits
The IRS issued proposed regulations for determining whether an eligible employer-sponsored health plan provides minimum value for purposes of the Sec. 36B health insurance premium tax credit.
IRS Issues Guidance on Minimum Essential Health Coverage, Shared-Responsibility Penalty
The IRS issued two notices defining minimum essential coverage for purposes of the Sec. 36B premium tax credit and providing relief from the shared-responsibility penalty under Sec. 5000A for individuals covered by non-calendar year plans.
Avoiding Income Tax Credit Recapture by a Corporation
A corporation that disposes of real property may be required to increase its tax liability via a recapture of the investment tax credit or the low-income housing credit.
Employers Have Additional Time to Claim Work Opportunity Tax Credit
The IRS announced that it is extending the time employers who want to claim the WOTC have to file the prescreening notice and certification request.
Developments in Individual Taxation
This article covers recent developments in individual taxation. The items are arranged in Code section order.
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